No-deal Brexit
Automotive is one of the UK’s most valuable assets, employing 856,000 people and delivering £20.2 billion to the economy.
Since 2010, car production alone has risen by a third, with 1.67 million cars leaving production lines in 2017 – 80 per cent bound for export, most to the EU.
Over the same period, the number of jobs supported has risen by 120,000. This growth has been dependent on free and frictionless trade afforded by the single market and customs union.
A no-deal Brexit would bring an immediate end to the seamless movement of goods, resulting in disruption at the border and delays, throwing Just-in-Time manufacturing into chaos and undermining the competitiveness of the sector – ultimately putting profitability and jobs at risk.
Mike Hawes, SMMT Chief Executive, said: “Frictionless trade as part of the EU single market and customs union has driven the success of the UK automotive industry so the fact we are leaving is already painful, and already causing damage.
“Leaving without a deal would be catastrophic – plants will close; jobs will be lost. Leaving is not what we wanted, but we recognise that the withdrawal agreement has been hard-fought and, crucially, delivers a transition period which steps us back from the cliffedge.”
He went on: “We need an ambitious deal for the future that guarantees frictionless trade with our most important market – nothing else will do, and we urge all parties to remember what’s at stake.
And Tony Walker, the SMMT President and managing director of the London office of Toyota Motor Europe added: “No deal is not an option.
“In the short term, crashing out of the EU would have immediate and devastating impacts, with border chaos disrupting the Just in Time basis on which our business depends.” Volkswagen Commercial Vehicles has responded to a surge in demand for private hire vehicles with a £3,000 initial rental contribution and free servicing offer on the Caravelle when financed with Contract Hire.
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